The unbearable sadness of numbers that are not what Fox News hoped for — it burns …
I mean, not to be partisan or anything but this is actually pretty funny to watch. "That's right, Steve, only 271,000 new jobs were added last month. That is up from September as well. Analysts were expecting more than 180,000 jobs for October."
But we got "only 271,000." Clearly a moment of grieving silence is called for.
Fox News Anchors Hilariously Struggle to Process Drop in Unemployment
It does not compute.
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The good news is bad theme exists out of Murdoch's buildings. When the economy appears to improve, the stock market often goes down because investors believe that the Fed will raise interest rates.
Of course, I don't trust Fox anyway. They're all in New York City, and once the cameras are turned off, they probably all hang out with Hillary Clinton.
The unemployment rate is not the same thing as the
labor participation rate,,, plain and simple…
After they have collected their 99 weeks of unemployment bennefits and still have not found a job they are no longer counted as unemployed but are now counted against the labor participation rate (ie; left the work force),,, which is now the lowest labor participation rate since the Carter Administration
+John E. Bredehoft Which is yet another way in which the stock market is a crappy indicator of the health of the economy.
By the way, as soon as you get a photo of Megyn Kelly and Hillary Clinton knocking back cosmos at a bar together, I promise to post it. 🙂
+mark starr You are correct that the two figures are different, though the unemployment rate is not just measured based on unemployment insurance claims (which are not 99 weeks at the moment, btw); as long as folk are actively still looking for work, they are considered unemployed.
That said, the decline in the LPR isn't just "there ain't no jobs". About half comes from an aging (retiring) population. Another goodly chunk is from an increased student population. (See http://qz.com/516023/if-nearly-40-of-americans-arent-working-what-are-they-doing for discussion).